Sachs: Stimulate restructuring, not consumption

I usually do not agree with Jeff Sachs on much (putting it lightly), but I think he is dead on in this comment piece: "Obama has lost his way on jobs."
Of course it is easy to just say, instead of governing by necessity we should be setting policy strategically. But this is a democracy and its tough to think long term in our system of government so I'm inclined to give Obama some leeway. But Sachs is absolutely right that we need to be orienting our policy towards a fundamental restructuring of our economy (plus, economics aside, I cringe for our environment when pundits claim we need to 'ramp up consumption'). The one we've got hasn't been working.